Tuesday, September 24, 2013

GSK China sales may be down 30pc on bribery scandal: analysts

Tuesday, 24 September 2013 02:04
Posted by Muhammad Iqbal

imageLONDON: GlaxoSmithKline's sales in China may have dropped 30 percent since authorities accused it of corruption, disrupting its ability to market medicines in the country, according to analyst estimates.

Citigroup said initial feedback following the accusations against GSK and investigations into other firms suggested that sales of some multinational drug companies were down as much as 30 percent or more in volume terms since June.


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